Did You Know...

   

Feds to enforce fingerprint/ID registration database against…mortgage brokers

Share
By Michelle Malkin  •  July 28, 2010 05:32 PM

Well, this is quite a striking contrast to the Arizona ruling today protecting illegal aliens and the feds from “burdensome” ID checks. The government is creating a national registry/fingerprint database for mortgage brokers in the U.S.

Priorities:

Mortgage loan originators will have to be fingerprinted and sign up to a central registry to do business in future, according to final rules issued on Wednesday by the Federal Reserve and other regulators.

The rules are part of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also called the S.A.F.E. Act.

They were issued by the Fed, Comptroller of the Currency, Federal Deposit Insurance Corp, Office of Thrift Supervision, Farm Credit Administration and National Credit Union Administration.

Mortgage brokers came under tough scrutiny in the wake of the 2007-09 financial crisis, with some lawmakers and regulators sharply critical of underwriting standards and practices that were seen as so loose they helped foster a housing price bubble.

The S.A.F.E. Act specifies that mortgage brokers who are employees of agency-regulated institutions must register with the Nationwide Mortgage Licensing System and Registry,

“As part of this registration process, residential mortgage loan originators must furnish to the registry information and fingerprints for background checks,” a joint release from regulators said.

“Undocumented” mortgage brokers would presumably get sanctuary status…

blog comments powered by Disqus

Latest Scott Walker outrage: GOP presidential candidate advises illegal alien to follow the law

July 20, 2015 06:56 AM by Doug Powers

noyoudidnt

The horror

Sheriff of Sanctuary City puts blame for SF tourist’s murder on ICE (just one problem)

July 9, 2015 06:44 AM by Doug Powers

stooges

Caution: Progressive policies at work

Is your church abetting Sanctuary Nation?

July 8, 2015 08:00 AM by Michelle Malkin

WH spox points at GOP after murder by 5-time deportee who took asylum in sanctuary city

July 7, 2015 12:15 PM by Doug Powers

earnest

Press brieifing room declared sanctuary city for liars

Of course: Murder suspect who had been deported 5 times chose S.F. because it’s a sanctuary city

July 6, 2015 10:00 AM by Doug Powers

sanctuary

Causality


Categories: Feature Story, Immigration, Politics, Sanctuary Cities

Follow me on Twitter Follow me on Facebook